Succession in family firms: the impact of the transfer of capital

Judith Hacker and Michael Dowling

International Journal of Entrepreneurship and Small Business, 2013, vol. 18, issue 4, 428-442

Abstract: In family firms, the transfer of ownership to one or several heirs who are also family members can be a difficult issue. In this study, using a sample of 152 German family firms, we investigated whether different forms of ownership transfer have distinct characteristics. Although we found no indication of successors having a worse relationship if unequal shares are transferred, we found that majority and minority shares are seen as a sign of less equal treatment. Furthermore, we found that if only one person receives company shares, the succession occurs earlier and the succession process is also shorter.

Keywords: family firms; ownership transfer; transfer of capital; succession process; family firm successors; Germany; entrepreneurship; majority shares; minority shares; equal treatment; equality. (search for similar items in EconPapers)
Date: 2013
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